United Microelectronics May Sales Soar 4% YoY: Details Here
United Microelectronics Corporation (NYSE:UMC) said its sales in May rose 3.89% year over year to NT$19.509 billion.
Revenues for the period Jan-May gained 2.66% to NT$93.882 billion. Total revenues in May fell 1.2% from April revenues.
Last month, the company unveiled the industry’s first 3D IC solution for RFSOI technology.
Other significant players in the chip industry, Vanguard International Semiconductor Corporation and NXP Semiconductors N.V. (NASDAQ:NXPI) have been on the headlines on plans to spend up to $7.8 billion on a new semiconductor facility in Singapore.
Read More Here: TSMC-Backed Vanguard, NXP Plan On Building $7.8B Semiconductor Facility In Singapore
In 2022, United Microelectronics approved a plan to build a new advanced manufacturing facility next to its existing 300mm fab (Fab12i) in Singapore. This project required a $5 billion investment.
Recent reports indicate that UMC’s upcoming facility in Singapore is slated for completion by mid-2024, with initial production scheduled to start in early 2025, TrendForce reported recently.
While reporting first-quarter results last month on April 24, the company said CAPEX spending in the quarter totaled $924 million. The 2024 cash-based CAPEX budget will be $3.3 billion.
Price Action: UMC shares closed higher by 2.19% to $8.41 on Wednesday.